Google's possible move into offering competitive mortgage quotes has sparked a lawsuit. The search engine giant is allegedly in talks with Mortech, a provider of technology that helps automate lender offer pricing. Mortech already supplies this pricing engine technology to LendingTree, which is far from pleased at the prospect …
Corrected for truth?
"We’re constantly looking for new ways to help people find what they are looking for on the Internet. As part of that effort, we are currently working on a small ad unit test that will run against a limited number of mortgage-related search queries in the US,"
We're constantly looking for new ways to make more money out of the Internet and those that use it. As part of that effort, we are currently working on delivering yet more advertising to run against 99.9% of mortgage related search queries in th US.
See what 4 billion+ in the bank can do?
Google doesn't have to risk becoming a bank, they can just copy Lending Tree's business model and use their monopoly in the search engine (brand) to dominate this segment of the industry as a mortgage rate aggregator. ?sp?. Of course unlike lending tree they can cut out the middle man and put their own ads on their own website.
Hmmm makes you wonder if Google isn't looking at the 'industries' or sites that have the highest amount of ad traffic and click throughs. Meaning that Google in theory can use their internal information to determine which business models that they should absorb in to their borg collective.
Of course if they were smart, they'd buy a failed thrift and create their own branded bank.
But that's probably their next step ... ;-)
It's time for the First Bank of the Moon.
TBH I like this idea: for too long, currencies have been backed by nation-states, with all the political wibblings that involves.
The time is right for private currencies to make themselves felt: Let the GoogleBank find its place on the international lending-scene; let Bill's Dollars [first Bank of Microsoft] challenge the Fed and may the highest-interest-payer win!
[Some years back, Prof. Ian Angell of the LSE postulated the idea of 'off-planet' banking that operated beyond the reach of terrestrial tax-authorities and money-laundering regulations... I really like this idea - we need to allow grant of land-rights on places like the Moon or Venus, and then the establishment of extraterrestrial corporations....]
The sooner that ...
... the likes of Google get into financial services and provisioning the better.
It's time those fuddy-duddy type doods presently costing all of us lots of dosh had some serious competition.
Go Google Go!
Do no evil,
Except usery and loan sharking, and some other things, but no other evil apart from that.
Given the title of the article, I thought Google was gonna start lending poeple money to buy houses. They are only moving into loan search/ aggregation though. I was scared for a second there.
@ all Above comments
Yet again we see the legtimate business actions of google getting spewed upon. Doesn't everyone realise that the Google's primary business statement is to "Do no Evil". To even suggest that they are using search and click traffic for their own personal and business greed is simply ....
Damn almost made it. Even had to choke down the rising bile a few times too.
And so it begins.
Here in the UK we have Tesco. Used to be a grocer. Now, wants to take over every aspect of our life.
Cradle to the grave. With Clubcard points, naturally.
This appears to be Google taking the first [?] steps on that route.
On the bright side, it may not be too long before some creative startup appears that re-asserts Google's 'do no evil', citing Google as 'the evil one'.
HOW IS GOOGLE EVIL???!!!
Ok. So google have spotted a market and they want in.
Isn't this what google have always done? We'd all be stuck with yahoo if it wasn't for google. We'd all be using MS Maps if it wasn't for google. April first would be duller without google. Google would not be here at all if they only entered markets they make up themselves.
How can America call itself the land of the free, that capitalist leader of the world, and then tear down someone like google simply because of their size? Makes no sense to me.
FAIL. To all the lame reg readers who seem to oppose anything google. They're in business to make money. Get a clue!!!!
PS The only association I have with google is my start page.
This is hardly evil. The thing with Google is they offer a service that at the moment anyone can easily take or leave. Just enter a new address. The competitors are scared shitless because Google will do it better and cheaper than they can. As long as Google continues to be a sensible advertising company (none of that HEY LOOK AT ME PUNCH THE MONKEY FOR $$$$!) bs I am extremely pleased with their dominance.
Of course the problem would come if they ever changed their mind.
I can see why this has brought about a lawsuit - it's one thing to say that Google are simply providing competition, but imagine trying to run a business where most of your customers had to walk through your competitors store to get to yours.
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